Fidelity Digital to hire 100 people for crypto-related services

Seeing a huge demand of cryptocurrencies, Fidelity Digital Assets, the subsidiary of an asset management firm, reported to expand its staff size by 70%, at least 100 staff, for crypto business. ““We’ve seen more interest in Ether, so we want to be ahead of that demand.” said Tom Jessop, the president of Fidelity Digital Assets. As the crypto market operates 24/7, the expansion of the crypto team could help to extend the service time to the clients.

Besides, Stablecoin firm Circle announced their plan to go public by integrating with Concord Acquisition Corp (NYSE: CND), a publicly-traded special purpose acquisition corporation (SPAC). The company said the merger will value Circle at US$4.5 billion.

According to Coinmarketcap, USDT is the most popular stablecoin with market capitalisation over US$62 billion, while USDC’s market cap is ⅖ of USDT, around US$26.5 billion. Despite USDT being massively used by the community, its dollar reserve is always called into question. In contrast, USDC is issued by Circle, a Goldman Sachs-backed company, with high transparency and credibility, and was accepted by Visa for settling transactions in March. Therefore, it is believed that USDC could become the first choice of stablecoin after Circle goes public.

TideBit is a leading crypto asset exchange supporting fiat currency.